Annual Report 2007-08 - Plumbing Industry Commission

NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2008
12 Remuneration of auditors
2008 2007
$ $
Audit fees paid or payable to the Victorian Auditor-General’s
Office for audit of the Commission’s financial report:
Paid as at 30 June 10,800 –
Payable as at 30 June – 8,600
13 Contingent liabilities and contingent assets
The Commission is not aware of any contingent liability or contingent assets as at 30 June 2008.
14 Commitments for expenditure
As at 30 June 2008 there were no commitments by the Commission in respect of any capital expenditure contracted but not provided for
in the accounts.
The Commission occupies premises in Camberwell under a one year option of a lease exercised on 1 November 2007.
The committed expense in connection with the lease is as follows:
2008 2007
$ $
Payable within one year 9,200 9,200
Later than one year but not later than five years – –
9,200 9,200
15 Notes to cash flow statement
(a) Cash and cash equivalents
2008 2007
$ $
Cash and cash equivalents comprise the following items as disclosed in the balance sheet:
Cash 794,223 256,175
Short-term deposits 3,045,000 3,645,000
Total cash and cash equivalents 3,839,223 3,901,175
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